Form 4: Goldman Sachs Director Peter Oppenheimer Acquires Restricted Stock Units

Peter Oppenheimer, a director at Goldman Sachs, acquired 661 restricted stock units as part of his 2024 annual grant and board service fees.

Summary

• Peter Oppenheimer, a director at Goldman Sachs, received 661 restricted stock units (RSUs) on January 16, 2025.
• These RSUs are part of his 2024 annual grant for service on the Issuer's Board of Directors, fourth quarter 2024 Annual Retainer and Committee Chair Fee for service on the Issuer's Board of Directors and fourth quarter 2024 Annual Retainer for service on the Board of Directors of Goldman Sachs Bank USA.
• The shares underlying these RSUs will be delivered approximately 90 days after Oppenheimer's retirement from the Goldman Sachs Board or the GS Bank Board.
• Following this transaction, Oppenheimer directly owns 6,539 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns interests. There are no negative implications.

Positives

• The grant of restricted stock units aligns the director's interests with the long-term performance of the company.
• The vesting schedule encourages continued service on the board.

Future Outlook

The shares underlying the RSUs will be delivered approximately 90 days after the director's retirement from the board.

Industry Context

This is a standard practice for compensating board members at large public companies like Goldman Sachs, aligning their interests with shareholders through equity-based compensation.

Comparison to Industry Standards

• Granting restricted stock units to board members is a common practice among large financial institutions.
• Companies like JP Morgan Chase and Morgan Stanley also use similar equity-based compensation for their directors.
• The vesting period of approximately 90 days after retirement is also a typical structure to ensure continued service and alignment with long-term company performance.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's long-term performance.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Next Steps

• The shares underlying the RSUs will be delivered approximately 90 days after Peter Oppenheimer's retirement from the board.

Key Dates

Keywords

Restricted Stock Units, RSU, Director Compensation, Goldman Sachs, Board of Directors, Equity Compensation, Form 4, Peter Oppenheimer